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Bank of the Philippine Islands (BPI) Finances Energy Efficiency Projects

In an effort to minimize power costs, Corfarm, a 15,000-head pig farm north of Manila constructed a methane capture and electricity production facility.

Needing financing, the company applied for and got a $1 million loan from the Bank of the Philippine Islands (BPI). BPI President Aurelio Mantinola III is glad his bank, one of the country’s largest can help farmers in the Philippines. Pioneering in sustainable energy finance affirms BPI’s commitment to environmental protection. “IFC helped our bank’s staff to better understand the energy efficiency and renewable energy segments, and we are in advanced negotiation with IFC on a risk sharing agreement that will help us build a robust and sustainable portfolio,” Montinola said. The program is based on the idea that financing sustainable energy projects is both good business and useful in fighting climate change. Supported by the Global Environment Facility, it works with banks, technology and equipment vendors, end-users, regulatory agencies, and market-awareness partners to promote sustainable energy.

Download full case study from the Related Documents section

YES Bank Finances Sustainable Energy in India

YES Bank, an entrepreneurial commercial bank in India, is one of five of India’s largest banks that have developed energy efficiency lending programs targeting small and medium enterprises. “Financing for Bundled Small-scale Rural Renewable Energy and Energy Efficiency Ventures in India,” and was developed by YES Bank’s Agribusiness, Rural & Social Banking (ARSB) and Sustainable Investment Bank (SIB) Teams. The goal of the project itself is to develop new credit practices financing bundles of small-scale renewable energy and energy efficiency ventures in rural and peri-urban India.

In the first transaction, YES Bank provided financing in the amount of approximately €15 million Euros to a bundle of 25,000 farming households across the states of Maharashtra, Gujarat and Rajasthan in a deal to finance the purchase of energy-efficient drip irrigation systems, with a loan averaging about 594 Euros per household.

YES Bank has become a thought leader in responsible banking and sustainability integration. Beyond energy efficiency lending, YES Bank measures its direct GHG emissions footprint.

Read full story here.

Industrial Bank Extends Cleaner Production Financing in SMEs in China

Industrial Bank financed 46 energy efficiency and greenhouse gas emissions reduction projects, for a total loan amount of 900 million Chinese renminbi ($126 million). This initiative is expected to help reduce 5 million tons of carbon dioxide emissions a year, the equivalent of replacing ten 100-megawatt coal-fired power plants in China.

The majority of these loans are to small and medium enterprises that are implementing energy efficiency projects such as industrial boiler retrofitting, wasted heat recovery, co- and tri-generation projects for district heating, power saving, and optimization of industrial energy uses. Implementation of these projects are expected to reduce carbon dioxide emissions by more than 3.5 million tons a year, the equivalent of emissions from all 70,000 taxis currently running in Beijing for three years.


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